Abstract
Time-to-build completion rates can be estimated individually: under the restrictions that they are positive values summing up to one. As an alternative strategy, we may use the beta distribution as a restriction and calculate the corresponding completion rates collectively. The estimation results of a time-to-build model indicate that imposing the beta distribution may successfully preclude unrealistic completion pattern and improve fit of the model to data.
Original language | English |
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Pages (from-to) | 1073-1081 |
Number of pages | 9 |
Journal | Economics Bulletin |
Volume | 2 |
Issue number | 1 |
State | Published - 2013 |